The lenders can convert at any point they want after 4 months.
The Convertible Debentures will be convertible at the option of the holder into Common Shares at any time prior to the close of business on the Maturity Date at a conversion price of $1.30 per Common Share (the "Conversion Price"). Beginning on the date that is four months and one day following the Closing Date Read more at http://www.stockhouse.com/companies/bullboard#gptWRwQRvsVe05RP.99
3 years is the MAX amount of time before everything expires. They will convert long before.
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